The invention relates to a method for separating a multi-element alloy of lead, bismuth, gold, silver and copper, which adopts a vacuum distillation method to treat the multi-element alloy, wherein the distillation temperature is 1,050 to 1,100 DEG C, the distillation time is 60 to 80min and the vacuum degree in a furnace is 5 to 15 Pa. Materials can be separated into a volatile (an alloy of lead and bismuth) and a residue (an alloy of gold, silver and copper). In the separated product, noble metals are gathered in 6 to 7 times; the recovery rate of each noble metal is over 99 percent; the loss of the noble metals is low; and the recovery rates of the lead and the bismuth are 98 percent and 98.5 percent respectively.